Are We Headed Towards a New Great Depression?

Has the adoption of fiat money 40 years ago created an unsustainable economic paradigm in the US, with the unprecedented expansion of credit? Is this then the start of a New Great Depression? On the Breakfast Grille is author of 'The New Depression: The Breakdown of the Paper Money Economy" Richard Duncan, and he discusses: -- How US debt has ballooned almost fifty-fold in the four decade since the US stopped backing dollars with gold -- Why he thinks the current economic system in place in the US is not capitalism -- His reconstruction of Irving Fisher's quantity theory of money to become the Quantity Theory of Credit – on the premise that there is no real distinction between money and credit -- Lessons the Federal Reserve has learnt from the 1929 Great Depression -- What's at stake for the world economy if there is the New Great Depressionand what needs to be done to prevent it from happening. -- Which areas the US government should be looking to spend on and why -- Find out his advice to investorsSee omnystudio.com/listener for privacy information.